St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-25

dry and uninteresting diet, yet the bust
ness men and the mOneyed men of the
country deal wholly in facts and not
fancies, consequently they will be fOrci-
bly, impressed with the gratifying show
ing that the Flour City presents as to
the position it has occupied in the COM
mercial world during the past eleven
THE STATE BANK,
located in the Harmonic building at the
corner of Third street and Second ave-
nue. south, is one of the most popular
banking institutions in the city. Sup
ported as it Is, by some fifty of the most
wealthy and influential Americans and
Scandinavians in Minnesota, it is re-
garded as one of the soundest and most
solid banks in the Northwest. The bank
receives open accounts, pays and 6per
cent interest on time deposits, and loans
money to its customers OH reasonable
terms.
The officers that guide this moneyed
ship through the commercial breakers
are: John PaulsOn, president; Loren
cashier, and Otto f. Nargele, assistant
cashier.
We can safely recommend the State
bank to all of the GLOBE readers.
NATIONAL. BANK OF COMMERCE
dates its organization to May, 1884, TAX
ing possession Of its present cOmmmo-
dious and pleasant quarters in the
chamber of commerce building, at the
corner of Third street and Fourth ave-
nue. south, at the same time. Its au-
thOrized capital is 81 200, 900, with $780,
600 paid in. When first organized the
amount of the capital stock was S400, 600,
but in order to meet the eXigencieS of
the times 1t was increased July l, 1886,
to $500,0O0, and again to the present
amount July 1, 1887, cOnclusively show
ing that prosperity has attended the en-
terprise since its inception. The officers
of the bank are all well-knOwn business
men of Minneapolis, whose interests
are strongly identified with everything
pertaining to the welfare of the city.
They are: E. A. harmon, president;
George II. Rust, vice president; Will
lam Powell, cashier: 81. H. Thayer, as
sistant cashier. To more fully illustrate
the faith and good fellowship this bank
has in the future of Minneapolis, is to
state that the past season it purchased
the eligible corner at First avenue
south and Fourth street, 66x142 feet, and
laid the foundation for Seyen-StOry,
stone, fire-prOOf bank building. that
they will occupy upon its completion
about January or April, 1889. The bank
thus far has paid per cent Semi-annual
dividends.
THE UNION NATIONAL BANK,
corner of Third street and First avenue
south, stands prominently among the
most practical banking institutions of
the city, while the financial solidity OF
those who comprise its dictatorship is a
sufficient guarantee gifts responsibility.
Since the first organization III 'S3, the
Union National bank has increased the
capital to 100000, and has a surplus
and undivided profits amounting to over
$500, The amount of its loans and
discounts will exceed $1,000, 600, while
the customary 4 per cent semi-annual
dividend has been declared payable
Jan. /.
The President. S. E. Neiler, and his
son H. J. heller, cashier, have been Sc
long identified with the financial inter
ests of the city and state that they are
thoroughly familiar with the demands
upon the capital of the rapidly growing
Northwest. The officers and directors
of the Union National are: John S.
Pillsbury, Ex-Governor; II. F. Brown.
of Brown & Co., lumber and -four; SAM
uels P. Snider, capitalist; A. F. Kelley.
real estate mortgage loans; JudSOn n.
Cross, of Cross d Carleton, attorneys;
A. II. Linton, of LangdOn, Henry d
Co., railroad cOtractOrs; A. c. Austin,
capitalist; Henry Doerr, of Winecke &
DOerr, wholesale tobacconiStS; Fl. w.
Phelps, capitalist; S. G. Robinson, of
Bardwell, Robinson & Co., sash, doors
and blinds: Jas. W. Griffin, capitalist.
THE FAMERS' AND MECHANICS SAVINGS
is the only exclusively savings bank in
successful operation west of Cleveland,
O., and its organization was the out
growth of universal demand from the
Industrial classes for better protection
of their hard-earned savings, but which
could only be done by wise and judicial
legislation. For five consecutive ses-
siOns of our state Legislature did Mr.. E.
III. Moulton, the treasurer of this bank.
labor to have enacted a law that was ap-
plicable to meet this demand, but not
until the power of the press was in
vOked did the wise solOns consider the
subject worthy of their attention. AIDE
quate legislation was finally secured
and the establishment of the Farmers
and Mechanics Savings bank was the
of dollars belonging to the industrial
classes have been guarded and pro-
tected while each depOsitor has shared
proportionately in the earnings and
profits of the bank. The bank pays
per cent interest, does no commercial
business, loans no money on notes with
out security, and takes no risks of any
kind. Since its establishment fourteen
years ago, the bank has never lost a
dollar, conclusively showing the con-
sentative and able management OF its
officers. On the first day of December.
the banks reports showed that the ag-
gregate deposits was 1870, 20O.55, while
the earnings since July last were over
$4,000. The policy and intent Of Mr..
MOultOn and the organizers of the above
institution was to encourage the indus
try, sobriety and economy of the work
ing classes, that they might make little
savings as provision against want and
distress, while advancing their moral
condition and augmenting their social
comforts.
THE CITY BANK
occupies cOmmOdiOuS quarters in the
Boston block at the corner of HennepiI
avenue and Third street, and was incor.
pOrated under the state law in 1872
a capital of $15G,00O, which has since
been Increased to $500, 1000, with deposits
averaging 100000, while the annual
gross business done will figure close to
100000 Mr.. T. J. Buxton was the
founder of the City bank, and has re-
tanned the presidency of the same con
tinuously for nearly fourteen years,
with valuable assistants in j. E. Gould,
as cashier, and F. A. Smith, assistant
cashier. Mr.. Buxton gained personal
popularity while filling the position of
city treasurer for eight years, and SC
creditable as to attract many warm per-
sonal friends, whose influence and pat
rOnage have materially benefited the
bank. Messrs. Gould and Smith are
conversant with all the minutia of how
a bank should be conducted from the
long training they received in financial
circles.
THE Scandal BANK
has gained wide popularity among the
Representatives of Norway and